Craftsvilla, an online marketplace for Indian products, has acquired Bangalore based PlaceofOrigin, a platform which sells sweets, snacks and other items, for an all equity deal at an undisclosed amount. It is unclear if PlaceofOrigin will continue to operate independently or as a new category under Craftsvilla, although the latter seems unlikely as of now. Craftsvilla says that the acquisition is in line with its vision to build shopping destination for all things ethnic. In a statement, Manoj Gupta, co-founder and CEO of Craftsvilla said, “.. We believe that ethnic foods is as big a category as ethnic wear with upwards of Rs 50,000 crore market size and we are looking at ethnic foods as another frontier of growth in ethnic space… We look forward to utilizing their experience and our reach to make this a huge category of Craftsvilla.” PlaceofOrigin was founded by Ashish Nichani and Sudarsan Metla in 2014 and currently operates in 20 states. The company was incubated at Axilor Ventures and curates the marketplace for gourmet items. It does not store the products it delivers, instead they’re shipped from the store directly. It currently accepts credit and debit cards and net banking as payment modes and ties up with courier delivery companies to deliver products. Sendd acquisition: Earlier this month, Craftsvilla acquired the on-demand shipping service provider Sendd for $4.5 million. Post acquisition, Sendd would continue to operate independently and offer its services to other firms as well. Craftsvilla mentioned that it will use the acquisition to…
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